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April 27 (Reuters) - The rouble steadied on Thursday, with the market looking ahead to Friday's interest rate decision, as favourable month-end tax payments propped the Russian currency up amid a significant drop in oil prices. By 1322 GMT, the rouble was 0.2% stronger against the dollar at 81.44 and had gained 0.6% to trade at 89.76 versus the euro . Month-end tax payments that usually lead exporters to convert foreign currency revenue to meet local liabilities are putting a floor under the rouble. Oil prices dropped almost 4% on Wednesday, extending sharp losses from the previous session, driven by fears of a U.S. recession and an increase in Russian oil exports which dulled the impact of OPEC production cuts. "We still see no reason for the central bank to change the rate and its rhetoric, but inflation risks will continue to concern the central bank more than economic growth," said Dmitry Polevoy, head of investment at Locko-Invest.

☆ Russia's VTB reports profitable Q1, on track for sharp recovery
▼ + stars: | 2023-04-27 | by ( Elena Fabrichnaya | ) www.reuters.com time to read: +2 min

SummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, April 27 (Reuters) - Russia's No. 2 lender VTB (VTBR.MM) on Thursday posted first quarter net profit of 146.7 billion roubles ($1.8 billion) and kept its forecast for record profits this year as the bank recovers from a $7.7 billion sanctions-induced loss in 2022. Pyanov said the final price of VTB's second additional share issue will be determined in May. He said the 2022 loss excluded the bank from participating under the current version of the draft law. ($1 = 81.8500 roubles)Reporting by Elena Fabrichnaya; Writing by Alexander Marrow; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

☆ Ukraine war live updates: Putin signs decree taking over Russian assets of two foreign energy firms; Moscow threatens to abandon grain deal
▼ + stars: | 2023-04-26 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +2 min

Russian President Vladimir Putin chairs a meeting with members of the government via video link at the Novo-Ogaryovo state residence outside Moscow, Russia April 19, 2023. President Vladimir Putin on Tuesday signed a decree establishing temporary control of the Russian assets of two foreign energy firms, signalling Moscow could take similar action against other companies if need be. The decree — outlining possible retaliation if Russian assets abroad are seized — showed Moscow had already taken action against Uniper's Russian division and the assets of Finland's Fortum Oyj. The shares in the two entities have been placed in the temporary control of Rosimushchestvo, the federal government property agency, the decree said. Rosimushchestvo said more foreign firms could find their assets under temporary Russian control, TASS reported.

☆ Russia's VTB to launch digital bank on VKontakte social network
▼ + stars: | 2023-04-26 | by ( Elena Fabrichnaya | ) www.reuters.com time to read: +2 min

MOSCOW, April 26 (Reuters) - Russian state-owned bank VTB (VTBR.MM) will launch a digital bank within the mobile messaging app of leading social network VKontakte, Russia's answer to Facebook, as Moscow seeks technological solutions to disrupted banking transfers. That made operations with banks abroad particularly challenging as many bank cards stopped working overseas and Russia was disconnected from global payment systems. The digital bank will enable customers to carry out everyday financial transactions such as money transfers, some bill payments and mobile phone top-ups, within the VKontakte app. VTB, which had launched banking services through Telegram in January, said it was prepared to shut down its bank on Telegram once Roskomnadzor had come to a final decision. "As of today, there has been no such decision, so the bank in Telegram works, although we have stopped actively promoting it."

☆ Russia seizes more Western assets, narrowing options for company exits
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +4 min

President Vladimir Putin late on Tuesday signed a decree establishing temporary control of the Russian assets of the two European state-owned energy firms. The decree - outlining possible retaliation if Russian assets abroad are seized - showed Moscow had already taken action against Uniper's (UN01.DE) Russian division Unipro (UPRO.MM) and Fortum's assets. The European Union is looking at using frozen Russian assets to rebuild Ukraine. "Fortum's current understanding is that the new decree does not affect the title (registered ownership) of the assets and companies in Russia," the company said in a statement. Rosimushchestvo said more foreign firms' assets could come under temporary Russian control.

Sputnik/Gavriil Grigorov/Kremlin via REUTERS/File PhotoApril 25 (Reuters) - President Vladimir Putin on Tuesday signed a decree establishing temporary control of the Russian assets of two foreign energy firms, signaling Moscow could take similar action against other companies if need be. The decree - outlining possible retaliation if Russian assets abroad are seized - showed Moscow had already taken action against Uniper SE's (UN01.DE) Russian division and the assets of Finland's Fortum Oyj (FORTUM.HE). Rosimushchestvo said more foreign firms could find their assets under temporary Russian control, TASS reported. Last October European Council President Charles Michel said the EU was looking at using Russian assets frozen under sanctions against Moscow towards rebuilding Ukraine. Fortum had already warned shareholders there was a risk its Russian assets could be expropriated.

MOSCOW, April 24 (Reuters) - Russia should consider taking over and managing the assets of foreign firms such as Fortum (FORTUM.HE) in Russia, giving them back only when sanctions are lifted, Andrei Kostin, the CEO of state-owned bank VTB (VTBR.MM), said on Monday. "Completing the exit is likely to take further time and there still are significant uncertainties – including regulatory approvals – related to the ongoing divestment process," Fortum said in February 2023. Kostin said Russia should consider taking over foreign companies' assets, a process that he said would mirror restrictions imposed on Russian assets abroad. Kostin named Fortum as an example of a large foreign company whose assets could be targeted. Reporting by Elena Fabrichnaya; Writing by Alexander Marrow Editing by Gareth JonesOur Standards: The Thomson Reuters Trust Principles.

"It could be some kind of non-controlling stake in public companies," Kostin said in the interview. COMPETITIONHe said some industries lacked competition, a hangover from Soviet times, a consequence of which would ultimately see more investors take money elsewhere. Telecoms operator Rostelecom (RTKM.MM), defence conglomerate Rostec and state nuclear energy company Rosatom could have subsidiaries privatised, he said, adding: "The main thing is not to miss the moment when we can attract private money here." Under that programme, state property was sold very cheaply to well-connected businessmen who became known as "oligarchs". "We have a different country now, a different president, a different government that cannot allow what happened then," he said.

☆ Russia's Alfa Bank follows in VTB footsteps with record 2022 loss
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +2 min

Alfa Bank had made a net profit of 136.6 billion roubles in 2021, a record year for Russian banking sector profits. Provision costs for possible loan losses jumped about five times to 167.4 billion roubles, Alfa Bank's report said. However, net interest income rose to 211.7 billion roubles from 175.8 billion roubles in 2021 and Alfa Bank's assets increased to 5.82 trillion roubles, from 5.62 trillion roubles. Alfa Bank did not respond to a request for comment. Sanctioned Russian businessmen Mikhail Fridman and Petr Aven are in talks over selling their stake in Alfa Bank to their longtime business partner and its co-founder Andrei Kosogov.

☆ Russia's VTB eyes rebound after sanctions-hit $7.7 bln loss
▼ + stars: | 2023-04-05 | by ( Elena Fabrichnaya | ) www.reuters.com time to read: +3 min

CEO Andrei Kostin has blamed the bank's losses squarely on Western sanctions against Russia's financial sector. VTB posted a net loss of 612.6 billion roubles ($7.73 billion), down from a record profit of 327.4 billion roubles in 2021. Provisioning costs increased 343.3% to 514.3 billion roubles and net interest income slumped 50.3% to 321.0 billion roubles. It purchased rival Otkritie for 340 billion roubles from Russia's central bank late last year and is planning a second additional share issue this quarter, in which it plans to raise 50-125 billion roubles. The disposal of those subsidiaries cost VTB 229 billion roubles before tax.

☆ Deripaska denies lying to London court in Russian tycoon feud
▼ + stars: | 2023-03-22 | by ( Sam Tobin | ) www.reuters.com time to read: +2 min

LONDON, March 22 (Reuters) - Russian aluminium tycoon Oleg Deripaska on Wednesday denied lying about the relocation of EN+ Group from Jersey to Russia to avoid U.S. sanctions, as he fights his former business partner's attempt to jail him at London's High Court. Chernukhin's lawyers argue Deripaska breached an undertaking to preserve 45.5 million EN+ shares in Jersey to meet a $95 million debt to Chernukhin, which has since been paid in full. Jonathan Crow, representing Chernukhin, said on Tuesday that the shares were rendered "worthless" because of the difficulty in enforcing debts against Deripaska in Russia. But Deripaska, who denies breaching the undertaking, argues the EN+ shares would have been worthless if the company was not redomiciled as the company would have been bankrupted. Grant also said U.S. charges for allegedly violating sanctions could have prompted U.S. authorities to seek Deripaska's extradition from London.

☆ Economic asphyxiation puts Russia in China’s orbit
▼ + stars: | 2023-03-20 | by ( Pierre Briancon | ) www.reuters.com time to read: +7 min

Cut off from foreign markets by sanctions, Vladimir Putin’s government is at pains to finance budget deficits that would have been manageable in peacetime. The financial difficulties are pushing Russia further into the sphere of influence of China’s President Xi Jinping, who visits Moscow this week. Dipping into the fund, though, will push Moscow further into China’s financial orbit, Russian economist Alexandra Prokopenko has noted. In the short term, financial hope for Russia can only come from a significant increase in oil and gas prices. Trade between China and Russia increased by 34% last year as Chinese imports of oil and gas jumped 50%.

☆ India using SWIFT global payment system to settle Russia dollar trade - source
▼ + stars: | 2023-03-15 | by ( Shivangi Acharya | ) www.reuters.com time to read: +2 min

NEW DELHI, March 15 (Reuters) - Indian companies are using the SWIFT global payment system to settle dollar payments with Russia, a top trade official said on Wednesday, even though many Russian banks are blocked from the network due to Western sanctions. The West blocked access to SWIFT for several Russian banks, including Sberbank and VTB, soon after Moscow invaded Ukraine in February last year to target Russian trade, making it harder for Russian companies to do business. “We are using SWIFT for dollar payments," the official, who did not want to be named, said, when asked about the payment gateway being used for Russian payments. The official did not give more details about the banks that Indian traders were using to make the dollar payments. India has been using varied currencies to settle trade with Russia since the war in February last year.

☆ Russia’s biggest bank suffers 78% collapse in profit as sanctions bite
▼ + stars: | 2023-03-09 | by ( ) edition.cnn.com time to read: +2 min

Sberbank’s annual profit came at 270.5 billion rubles ($3.57 billion), down 78.3% from 2021 and around 30 billion rubles ($396 million) lower than what it reported for 2022 under Russian accounting standards. ‘Anti-crisis plan’Sberbank’s resilience in the face of sanctions helped Russia’s banking sector recover from a loss-making first half in 2022. 2 bank VTB, have not fared so well and Russia’s central bank warned of “systemic risks” to the sector last week as lenders scramble to turn a profit. Sberbank said savings exceeded 240 billion rubles ($3.2 billion), with operating costs down 1.5% year-on-year. The bank recovered $6 billion in foreign currency from abroad since sanctions were imposed, Gref said.

The SWIFT global payments system block and the freezing of more than $300 billion worth of central bank reserves abroad took Russia by surprise. The top executive at the top-20 Russian bank said Moscow was unprepared in particular for liquid assets being blocked and euro and dollar swaps becoming unavailable. "No one expected that the central bank would come under sanctions, and that it would be unable to help with foreign currency liquidity at that difficult moment," they said. 'BEST FRIEND'For banks, central bank support was crucial to weathering the initial hit to their business. The central bank's forecast is more restrained, at around 1 trillion roubles.

☆ Analysis: Washington pushes for harsher action against banks with Russia ties
▼ + stars: | 2023-02-14 | by ( John O'Donnell | ) www.reuters.com time to read: +6 min

"We are looking at additional banks and financial institutions to see how Russia deals with the outside world. Some European banks, including UniCredit (CRDI.MI) and Raiffeisen Bank International (RBIV.VI), have large businesses there and must follow local rules to grant payment holidays to soldiers. ENFORCEMENTO'Brien said that the United States would step up enforcement, something the EU also hopes to improve. "We are now looking at how sanctions, including financial sanctions, can be most effective," he said. "While the majority of important Russian banks are sanctioned, there is a lot outside that perimeter that you could go after," said Nicolas Veron, of Washington think tank the Peterson Institute for International Economics.

The West blocked several major Russian banks' access to the international SWIFT payments system soon after Moscow sent tens of thousands of troops into Ukraine on Feb. 24 last year, with dominant lenders Sberbank (SBER.MM) and VTB (VTBR.MM) - Russia's No. 2 bank - forced to shutter operations across much of Europe. Kostin, in an interview with state television channel Rossiya 24, said the bank had managed to grow its retail and corporate loan portfolios, but that sanctions accounted for all the lender's losses. VTB was forced to buy FX on the open market when the rouble had weakened sharply to more than 100 against the dollar, Kostin said. VTB was profitable in January and hopes to post profits in 2023 with a similar number of zeroes as the 320-billion-rouble figure achieved in 2021, Kostin said.

☆ Ukraine imposes sanctions on 182 Russian, Belarusian firms, 3 people
▼ + stars: | 2023-01-29 | by ( ) www.reuters.com time to read: +1 min

Jan 29 (Reuters) - Ukraine imposed sanctions against 182 Russian and Belarusian companies, and three individuals, in the latest of a series of steps by President Volodymyr Zelenskiy to block Moscow's and Minsk's connections to his country. "Their assets in Ukraine are blocked, their properties will be used for our defence," Zelenskiy said in a video address. The sanctioned companies chiefly engage in the transportation of goods, vehicle leasing and chemical production, according to the list published by the National Security and Defense Council of Ukraine. The list includes Russian potash fertiliser producer and exporter Uralkali, Belarus state-owned potash producer Belaruskali, Belarusian Railways, as well as Russia's VTB-Leasing and Gazprombank Leasing both dealing with transport leasing. Ukraine has sanctioned hundreds of Russian and Belarusian individuals and firms since the start of the Russian invasion of Ukraine in February last year.

☆ Elon Musk was spotted with a sanctioned, pro-Putin Russian TV presenter at the World Cup final in Qatar
▼ + stars: | 2022-12-19 | by ( Jake Epstein | ) www.businessinsider.com time to read: +3 min

Elon Musk was photographed at the World Cup final with a sanctioned Russian TV presenter. "Argentina beat France on penalties in the World Cup final. In addition to Asker-Zade, Musk was also photographed at the game on Sunday with Jared Kushner, the son-in-law of former President Donald Trump, and Turkish President Recep Tayyip Erdogan. Jared Kushner and Elon Musk look on during the FIFA World Cup Qatar 2022 Final match between Argentina and France at Lusail Stadium on December 18, 2022 in Lusail City, Qatar. Dan Mullan/Getty ImagesTurkish President Recep Tayyip Erdogan (L) chats with Elon Musk (R), Founder of Tesla and SpaceX at Lusail Stadium.

☆ U.S. Sanctions Russia’s Rosbank, Subsidiaries of VTB
▼ + stars: | 2022-12-15 | by ( David Smagalla | ) www.wsj.com time to read: +3 min

The U.S. government has sanctioned Russian lender Rosbank and has expanded sanctions against VTB, one of the country’s largest banks, in a move to further limit the Russian government’s efforts to fund its war in Ukraine. The Treasury Department’s Office of Foreign Assets Control on Thursday announced sanctions against 17 subsidiaries of VTB, building on sanctions placed on the parent company in February, after Russia invaded Ukraine. The Treasury cited the importance of Rosbank to the Russian government, given that the lender is considered a “systemically important credit institution” in the country. The U.S. sanctions follow similar sanctions of Rosbank by the U.K. and Canada earlier this year. Nornickel wasn’t included in the State Department’s sanctions package.

☆ Paramount Global projects fourth-quarter advertising revenue will decline from third quarter
▼ + stars: | 2022-12-06 | by ( Helen Coster | ) www.reuters.com time to read: 1 min

Russian state-owned bank VTB hit by largest DDoS attack in its history, article with imageFinance category · December 6, 2022 · 8:24 AM UTCRussia's No. 2 bank VTB was hit by the largest cyber attack in its history, it said on Tuesday, warning of temporary difficulties in accessing its mobile app and website, but assuring customers that their data remained safe.

☆ Russian state-owned bank VTB hit by largest DDoS attack in its history
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Dec 6 (Reuters) - Russia's No. 2 bank VTB (VTBR.MM) was hit by the largest cyber attack in its history, it said on Tuesday, warning of temporary difficulties in accessing its mobile app and website, but assuring customers that their data remained safe. "The bank's technological infrastructure is under an unprecedented cyber attack from abroad," VTB said in a statement. VTB said the majority of attacks had come from abroad, but that it was particularly concerned by traffic from Russian IP addresses. It said it would hand over all identified Russian IP addresses to law enforcement.

☆ U.S. to allow some Russian energy-related transactions until next May
▼ + stars: | 2022-11-10 | by ( Simon Jessop | ) www.reuters.com time to read: 1 min

WASHINGTON, Nov 10 (Reuters) - The United States will allow some energy-related transactions with several Russian entities including Sberbank (SBER.MM), VTB Bank (VTBR.MM) and Alfa-Bank to continue through May 14, the Treasury Department said on Thursday. Treasury said in a notice on its website that it was extending a general license that was set to expire next month. Russia's central bank is also on the list of entities. The move comes weeks before the Group of Seven's Dec. 5 price cap on Russian oil is set to take effect. Reporting by Costas Pitas and Daphne Psaledakis; Editing by Eric BeechOur Standards: The Thomson Reuters Trust Principles.

Nov 10 (Reuters) - Russia does not intend to postpone the sale of bailed-out lender Otkritie to Russia's second biggest bank VTB (VTBR.MM), central bank governor Elvira Nabiullina said on Thursday. She said that she is confident the deal will be completed before the end of the year. Reporting by Reuters. Editing by Jane MerrimanOur Standards: The Thomson Reuters Trust Principles.

☆ Russia's Sberbank makes over 50 bln rbls profit in 10-months
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

Russian financial authorities have managed to stabilise the situation - yet restrictions, including capital controls, remain and partial mobilisation led to cash outflows from retail accounts in September and October. Sberbank shares were trading at 5.6% and VTB shares were up 3.1% at 1136 GMT, respectively. Sberbank's results "are good news allowing us to expect strong financial results in the remaining months and to hope for a dividend payout return," Promsvyazbank analysts said in a note. Dividends from Sberbank and VTB are an important source of budget revenues. Sberbank sees no restrictions on dividend payments in the coming years while VTB would use the bulk of its profit to beef-up the capital, their CEOs have said.

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